The Dentsu team conducted research to search out out where CMOs plan to speculate to achieve consumers in 2024. In this text we are going to share the outcomes of the study. Spoiler: bloggers should work hard, but game creators can rest easy.
The Dentsu study included 600 CMOs from the United States and Canada.
We’ll let you know where marketing directors plan to speculate in the approaching yr, in addition to what difficulties they face.
Dentsu compared CMO plans with data collected over the previous 12 months prior to the survey. Below is an in depth schedule.
Social Commerce
S-commerce mustn’t be confused with social media marketing. In the second case, we’re talking about marketers using social networks to redirect traffic to a separate online store or to the corporate’s website.
But social commerce is an idea during which the platform functionality itself is used to sell goods or services. That is, attending to know the product, studying its properties, selecting and buying happen inside the social network. This sort of E-commerce is increasingly attracting specialists, as demonstrated by the Dentsu study. 35% of CMOs surveyed plan to spend money on it in the subsequent 12 months. This is 5% greater than within the previous period.
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Live events vs online meetings
CMOs’ attention is step by step shifting to live events: conferences, sporting events, concert events. The share of marketers who plan to speculate on this area increased by 5% – from 30 to 35%.
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The number of execs who’re going to spend money on the identical events in a virtual format has decreased by 5%. But interest in each directions stays high.
Influencer marketing – promotion through influencers
The Dentsu chart shows that the share of CMOs who plan to speculate in influencers is step by step declining. If within the previous 12 months this was 36% of respondents, then for the subsequent yr we’re talking about 31%. But it is just too early to attract clear conclusions.
If we have a look at a report from one other company, PQ Media, we see that global influencer marketing spending has shown a gradual increase since 2017. In 2022, 21.5% more was invested on this area than in 2021 – only $29.14 billion. The same report predicts that by the top of 2023, one other 17% more will likely be spent on influencer marketing than in 2022, for a complete approaching $34 billion. It is just too early to say that these numbers will begin to say no in 2024.
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But one thing is for sure: influencer marketing is undergoing major changes. The HubSpot report , which analyzed data from 1,000 marketers around the globe, reveals some interesting trends on this space.
For example:
- social networks have gotten increasingly vital;
- marketers more often refuse to cooperate with celebrities in favor of micro-influencers – bloggers with an audience of as much as 100 thousand;
- Short videos provide the best ROI;
- audiences like funny content;
- redistributing the identical content on different platforms is working increasingly poorly.
Another point that HubSpot pays attention to is an lively audience. Marketers note that what is significant now isn’t the numbers, however the response of live users. This is what all brands should deal with.
In-game promoting
The German company Statista, which makes a speciality of consumer and market data, conducted a study of the worldwide in-game promoting market. Its data shows that by the top of 2023, global revenue on this direction will likely be over $94 billion. But these impressive numbers will surprise you much more. Projections show that from 2023 to 2028, in-game promoting market revenue will grow by greater than 10% per yr. As a result, the market is projected to achieve a record $157 billion by 2028.
With such indicators, it isn’t surprising that the in-game promoting market is attracting marketers. The Dentsu report shows that 18% of surveyed CMOs are willing to spend money on this area. This isn’t the best figure when put next with the remainder, but it surely is 3% greater than within the previous 12 months.
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Other directions
The Dentsu report touches on several other topics. Over the subsequent 12 months, CMOs plan to speculate in the next areas:
- Advertising on the resources of outlets and distributors. The methods are different: articles, contextual and targeted promoting, etc. Interest on this area on the a part of CMOs increased by 1% – from 27 to twenty-eight%.
- Production and sponsorship of original content: TV shows, movies, podcasts, radio shows. 27% of promoting directors plan to speculate on this area.
- Integration into live broadcast content. There are not any changes on this direction. Still 26% of CMOs are going to speculate in it.
According to Dentsu’s research, in 2024 we’re preparing to attend events and watch in-game promoting. Moreover, large-scale promoting integrations in games are not any longer news. Back in 2020, Animal Crossing introduced a virtual KFC island with a proprietary design and all of the attributes of a quick food restaurant. It was a joint project between KFC and Nintendo. And something tells us that there will likely be increasingly such interesting cases.
Another topic that the Dentsu study touched on is the usage of AI within the media space. It turned out that 49% of surveyed CMOs depend on artificial intelligence to draw customers. They confirmed that they plan to make use of AI to develop media strategy, creative and content. But the predominant task for him continues to be data evaluation and reporting (53%).
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45% of CMOs will use artificial intelligence for audience targeting and segmentation, which can also be quite so much. About 5% of participants didn’t select any of the choices that were offered by Dentsu.
What challenges are CMOs facing now?
The world is changing in a short time, so marketers frequently face recent challenges. The Dentsu team investigated this issue as well. She found additional issues that cause concern for CMOs:
- Integrating recent technologies into work is time-consuming and expensive. To effectively use the capabilities of AI and AR, that you must invest lots of effort, time, energy and money.
- It becomes tougher to generate content. In the US, for example, that is because of the SAG-AFTRA strike . This is the primary actors’ strike in 43 years, which began on July 14, 2023 and lasted until November 8. It has hit the US film and tv industry hard, especially given the impact of the pandemic.
- Low control over brands in social networks and the creator economy. The Creator economy is an industry during which people themselves create a product (mainly content) and post it on various digital platforms. Since there are lots of authors, and the laws are removed from perfect, in such a situation it is extremely difficult to regulate the promotion of brands and their popularity.
- Condemnation of the media and accusations that it causes mental illness. The proven fact that social networks cause addiction and increase the chance of depression is increasingly being said – and this also affects marketing.
Even within the face of recent challenges, marketers are quickly adapting to market changes. 38% of participants from the Dentsu study noted that they’re taking a look at recent platforms and other promotion channels. At the identical time, 47% of CMOs agreed that it’s needed to observe the situation and never make decisions that can entail drastic changes in work in a short while.
We conclude that today, marketers must have the opportunity to react with lightning speed and adapt to market changes. Fortunately, WGG Agency is all the time aware of all trending events on the planet of promoting and is able to give you advice from a team of execs.
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